Barrie and Area home sales off to a healthy start in January

Residential property sales recorded through the MLS® System of the Barrie & District Association of REALTORS® Inc. posted a solid year-over-year gain in January 2012.

Home sales numbered 218 units in January, rising 11 per cent compared to the same month in 2011.

Within the City of Barrie, sales activity was up by less than the overall trend for the region. The City of Barrie saw 142 residential sales in January, up eight per cent from one year earlier.

“Home sales held more or less steady for the seventh straight month, and also stood well above demand in the same month last year,” said Walter Doret, President of the Barrie and District Association of REALTORS®. “While demand has been stable in recent months, supply has been trending down. That has resulted in a tighter market, which is keeping the upward pressure on prices.”

The average price for all homes sold via the Association’s MLS® System in January 2012 was $288,549, up five per cent from levels in January 2011.

The average price figure for homes sold just within the City of Barrie was $278,234. This was a seven per cent increase compared to the same month in 2011.

The Barrie & District Association of REALTORS® cautions that over a period of time, the use of average price information can be useful in establishing trends, but it does not indicate actual prices in widely divergent areas or account for price differentials between geographical areas.

The dollar value of all home sales in January 2012 was $62.9 million, up 16 per cent from year-ago levels.

New residential listings were down three per cent from a year earlier to 560 units in January 2012.

Active residential listings on the Association’s MLS® System numbered 1,246 units at the end of January 2012. This was down five per cent from the overall supply at the end of January 2011.

There were 4.6 months of inventory at the end of January 2012 on a seasonally adjusted basis, down slightly from 4.7 months in December 2011. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Sales of all property types in the Barrie region numbered 227 units in January, up 10 per cent compared to January 2011. The total value of all properties sold in January 2012 was $68 million, up 22 per cent on a year-over-year basis .

The Barrie and District Association of REALTORS® Inc. covers a geographical area that includes the City of Barrie and part or all of the surrounding townships, including Springwater, Oro-Medonte, Innisfil, Essa, Bradford-West Gwillimbury and Clearview..